General Dynamics (GD) Misses Q2 Earnings Estimates

Core Viewpoint - General Dynamics reported quarterly earnings of $3.26 per share, which fell short of the Zacks Consensus Estimate of $3.30 per share, but showed an increase from $2.70 per share a year ago [1][2] Financial Performance - The company posted revenues of $11.98 billion for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 3.89%, and up from $10.15 billion year-over-year [6] - This quarterly report represents an earnings surprise of -1.21%, with the previous quarter's earnings being $2.88 per share against an expectation of $2.89 per share, resulting in a surprise of -0.35% [5] Stock Performance - General Dynamics shares have increased approximately 13.4% since the beginning of the year, compared to the S&P 500's gain of 16.5% [7] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [10] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $3.87 on revenues of $11.96 billion, and for the current fiscal year, it is $14.54 on revenues of $46.85 billion [11] - The trend of estimate revisions for General Dynamics is mixed, which could change following the recent earnings report [10] Industry Context - General Dynamics operates within the Aerospace - Defense industry, which is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [12]